Craig Hallum Boosts GeneDx (NASDAQ:WGS) Price Target to $46.00

GeneDx (NASDAQ:WGS) had its price target hoisted by equities researchers at Craig Hallum from $43.00 to $46.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s price objective would suggest a potential upside of 45.80% from the stock’s current price.

Several other research analysts have also commented on the stock. TD Cowen increased their price target on shares of GeneDx from $14.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. The Goldman Sachs Group lifted their target price on shares of GeneDx from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday. Jefferies Financial Group initiated coverage on shares of GeneDx in a report on Monday, June 3rd. They issued a “hold” rating and a $21.00 target price on the stock. Finally, BTIG Research lifted their target price on shares of GeneDx from $19.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.60.

GeneDx Stock Up 4.7 %

Shares of WGS traded up $1.42 during mid-day trading on Wednesday, hitting $31.55. 788,175 shares of the company’s stock were exchanged, compared to its average volume of 397,050. The firm has a fifty day moving average of $27.74 and a two-hundred day moving average of $16.10. GeneDx has a twelve month low of $1.16 and a twelve month high of $35.65. The stock has a market cap of $824.09 million, a price-to-earnings ratio of -6.10 and a beta of 2.29. The company has a quick ratio of 2.99, a current ratio of 3.22 and a debt-to-equity ratio of 0.25.

GeneDx (NASDAQ:WGS) last announced its quarterly earnings results on Monday, April 29th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.35. GeneDx had a negative net margin of 60.86% and a negative return on equity of 36.23%. The company had revenue of $62.42 million for the quarter, compared to analyst estimates of $49.80 million. On average, sell-side analysts forecast that GeneDx will post -0.92 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Opko Health, Inc. sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $26.63, for a total transaction of $1,331,500.00. Following the completion of the transaction, the insider now owns 3,508,603 shares in the company, valued at $93,434,097.89. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Casdin Capital, Llc acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was purchased at an average price of $20.82 per share, for a total transaction of $2,082,000.00. Following the completion of the acquisition, the director now owns 3,063,509 shares in the company, valued at $63,782,257.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Opko Health, Inc. sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $26.63, for a total transaction of $1,331,500.00. Following the completion of the transaction, the insider now owns 3,508,603 shares of the company’s stock, valued at approximately $93,434,097.89. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 175,804 shares of company stock valued at $3,771,670 and sold 349,076 shares valued at $10,950,812. 28.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WGS. Thompson Davis & CO. Inc. boosted its holdings in shares of GeneDx by 99.4% in the fourth quarter. Thompson Davis & CO. Inc. now owns 19,944 shares of the company’s stock valued at $55,000 after buying an additional 9,944 shares during the period. PFG Investments LLC acquired a new position in shares of GeneDx in the first quarter valued at approximately $95,000. Decheng Capital LLC acquired a new position in shares of GeneDx in the fourth quarter valued at approximately $285,000. Legal Advantage Investments Inc. acquired a new position in shares of GeneDx in the second quarter valued at approximately $518,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of GeneDx in the second quarter valued at approximately $991,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

GeneDx Company Profile

GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.